I'm looking to convert races from Armada 2 to Armada 1, but I need to know if it's possible. I suspect it is, because i am running a mod for STA1 called Star Trek Armada Alliances, and it seems to use the same ODF format as Armada 2. Thing is, it's for A1.

Yes, it can be done for the most part if you have the right tools and a lot of patience and time. It WILL NOT be a one for one conversion though. For example, A2 models are different so they have to be converted. The texture in A2 have light maps so they have to be fixed. Odf files contain commands not available in A1...so on and so forth. Not all of this can be over come but most can with the right tools, time and patience.